U.S. Stocks Fall Amid Europe Concern as Cyprus Rejects Bank Levy
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U.S. stocks fell, sending the Standard & Poor’s 500 Index to its longest slump of the year, as Cypriot lawmakers’ rejection of a bank levy overshadowed data showing growth in new-home construction.
Cliffs Natural Resources Inc. tumbled 6.6 percent as Goldman Sachs Group Inc. cut its forecast for iron-ore prices. Electronic Arts Inc. slumped 8.3 percent after the video-game maker ousted its chief executive officer. Cardinal Health Inc. fell 8.2 percent after saying its contract with Walgreen Co. won’t be renewed. Walgreen rose 5.4 percent and AmerisourceBergen Corp. surged 3.6 percent after agreeing to a partnership.